Retailers Take The Hit With 75% Of Transit-Related Complaints: Vitesse Supports Anansi To Provide Relief

November 21, 2023

Insurtech, Vitesse, works with Anansi to simplify and reinvent the transit insurance process, helping to provide faster claims and take the strain off retailers. With 75% of the complaints regarding the delivery – meaning it’s typically the courier at fault – it’s the retailers who suffer – more often than not, losing valuable customers in the process.

As we enter the festive period, ensuring parcels arrive – whether it’s to the gift sender or receiver – is crucial. Both consumers and retailers continue to feel the pinch, meaning every single penny counts.

Anansi’s platform is part of a wider insurtech revolution that is transforming traditional insurance products and processes into an automated, hassle-free experience. Only 10% of all goods-in-transit are insured in the UK, and the industry has cumbersome onboarding and claims processes, ambiguous pricing, and inadequate courier insurance experiences.

Anansi’s embedded insurance platform offers customers comprehensive protection and automates the insurance journey. The entire experience is paperless, from onboarding and policy issuance through to claims and settlements, and payouts are parametrically triggered when a parcel is lost or delayed in transit. With Vitesse, the process becomes even more integrated for retailers, saving time, resources and money when things are currently being placed under an increased amount of pressure.

Megan Bingham-Walker, Co-founder & CEO of Anansi, stated, “We’re delighted to announce our partnership with Vitesse. Our companies have a shared vision of embracing automation and data-driven processes whenever possible, making this partnership a natural fit. We are truly inspired by the successes of the Vitesse team and are always keen to learn from startups that are a few steps ahead of us. Together, we can ensure retailers receive their claims as quickly as possible and deliver an excellent customer experience.”

Jake Mardell, Senior Claims Manager at Anansi, shared his perspective “Working with Vitesse has been a game-changer for Anansi. Their ability to process claims payments in multiple currencies will be a great help, and their seamless API integration has streamlined our processes, both internally and externally. I’m looking forward to the benefits it will bring to our department and, most importantly, to our customers.”

The partnership has helped to automate payments, whilst also allowing payments to happen in multiple currencies. This level of flexibility means that growth and scalability are possible, offering retailers and customers from all over the world access to the service.

Since Anansi and Vitesse joined forces in August 2022, they have launched their full shipping insurance product for retailers and 3PLs, struck a capacity deal with a panel of global insurers and signed Wowcher, the all-in-one shopping portal. Anansi’s insurance has enabled them to rectify shipping mishaps faster, recoup the full retail value of lost items and save time and money, so their teams can focus on other areas of the supply chain needing attention.

“As with all of our partnerships, working closely with Anansi helps us create an entirely efficient service across the whole insurance value chain,” said Phillip McGriskin, CEO of Vitesse. “We understand the frustrations of everyday consumers when deliveries aren’t as expected and how retailers take the brunt of the issue when anything goes wrong – combining Anansi’s world-class service with our revolutionary platform, together we can ensure that retailers are not left out of pocket and their strong relationships with customers maintained.”